Australian tech stocks track US peers lower, set for worst day in 2 weeks

Taiton Resources

17/05/2024 03:43

** The Australian technology sub-index  .AXIJ  drops as much
as 1.4% to 2277.300 points, on track for its worst day since May
1, if losses hold
    ** The sub-index tracks overnight losses in Wall Street,
which fell after hitting record highs as traders assessed their
rate-cut bets  .N 
    ** Shares of software firm Xero  XRO.AX  down as much as
2.4%, set for their worst day in more than two weeks, if current
trend holds
    ** Software developer Wisetech Global  WTC.AX  also lost as
much as 1.3%, losing its most since May 9
    ** Sub-index has risen 26% this year, as of last close

    

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))